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United gives back tax incentive money

Mon, 12 Nov 2012 17:24:32 CST
By: AP

Chicago City officials say United Airlines will repay $5.6 million in tax incentives the company received for redevelopment of its downtown Chicago headquarters. Mayor Rahm Emanuel's office says United also will forgo nearly $10 million in additional city grant money because it is leaving the site and consolidating at Willis Tower. United is no longer eligible for that money. Emanuel called United's announcement ``an incredible act of corporate citizenship.'' United recently extended its lease at the Willis Tower, formerly the Sears Tower, through 2028. The lease includes more than 800,000-square-feet of space in the skyscraper. The company says it will have more than 4,000 employees at Willis Towers by the second quarter of next year.

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